China Medical Technologies Acquires Beijing Bio-Ekon Biotechnology

(Beijing, China), a medical device company that develops, manufactures, and markets in-vitro diagnostic (IVD) products and a high-intensity focused ultrasound tumor therapy system, has entered into an agreement to purchase Beijing Bio-Ekon Biotechnology Co., Ltd. (BBE; Beijing, China) for US$28.8 million.

BBE has strong research and development capability and is developing enhanced chemiluminescence immunoassay (ECLIA) reagents for human immunodeficiency virus (HIV) and hepatitis C tests. The company has already developed a fully automatic ECLIA analyzer with processing capacity of 120 tests per hour. It applied magnetic antibody immunoassay (MAIA) separation technology to develop the analyzer.

The market potential of BBE's new reagents is very promising. The company has completed the development of an ECLIA reagent for testing blood fluke parasitic infection. Blood flukes post a major threat to the vast population living in the waterfront areas in the Yangtze River region of China. BBE has also developed reagents for testing toxic aflatoxin in cereal products and clenbuterol in pork.

"The acquisition is in line with our strategy to expand in the advanced IVD segment and increase our ECLIA products' penetration in hospitals across China,” stated Mr. Xiaodong Wu, chairman and CEO of China Medical Technologies. "BBE has a solid customer base of over 800 hospitals and certain of its reagents and MAIA-based fully automatic ECLIA analyzer can expand our product portfolio and provide us with new business opportunities in the testing of parasitic infections and food safety. BBE's direct sales experience will also be beneficial to us in formulating our sales strategies.”


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